Malaysian state oil company Petroliam Nasional Bhd. said Monday that it expects to finalize gas sales and transportation agreements related to its Kepodang asset in Indonesia by the end of this month.
Petronas said in a statement that it was responding to media reports that it was pulling out of the Kepodang asset. The company said it will continue with the development of Kepodang field.
It is considering potential partners, and is now in discussions with Indonesian regulator BPMigas and other stakeholders regarding the potential partners' involvement, it said.
Petronas, through its subsidiary Petronas Carigali Overseas Sdn. Bhd., acquired Indonesia's Muriah concession in 2004 and is currently developing the Kepodang field in the area to supply gas to the Tambak Lorok power plant in Central Java.
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